Why Should You Bank Local?

Why Should You Bank Local?


You often hear about why it's good to shop local.


By patronizing retailers, restaurants, and other local businesses, you're putting money back into your community, which supports job growth and a better quality of life for everyone.


But did you know that banking local is also a great idea? Locally owned banks make up over 96% of all banks in the United States. Let's take a look at some of the perks of choosing a local credit union or bank.

#1: Local Banking Is Personal Banking

You're more than just a number to local credit unions or community banks.


Your local banker often knows you by name, which translates into a higher level of customer support delivered with a personal touch.


For example, BluCurrent Credit Union is proud to serve our neighbors who live and work in a 10-county region of Southwest Missouri:













In addition, when you join your local credit union, you get two additional benefits:


  • You're an owner, not just a member. This means you not only get excellent service, you also get to participate in the decision-making process.

  • Your credit union is governed by a member-elected board of unpaid volunteers who must also be members. Credit union board members are solely accountable to you, their fellow member, and not to shareholders or other outside interests.


It's no wonder that credit unions and local banks often achieve higher customer satisfaction scores than the big boys.

#2: Get Better Financial Terms When You Bank Local

Looking for the best financial services in town? Here are a few advantages of going with a local credit union or community bank:


  • Lower or no fees. About 63% of small credit unions and banks offer free checking. Local credit unions and banks typically carry lower overdraft fees and lower balance requirements than large banks.


  • More flexible lending. When it's time to take out a loan for that new home or to further your education, check out the local credit unions or banks for lower interest rates.


  • Commercial lending advantages. Ready to start that small business? Local credit unions and banks usually offer a quicker process for approving loans and other services -- so you can open your doors sooner. In addition, your local credit union or bank rep understands how local market conditions might affect your business.

#3: Support Your Community

Banking local is a great way to give back to your community.


  • Local credit unions and community banks employ 700,000 Americans.


  • As noted above, local providers fund small businesses, which employ over half of the private workforce in the U.S.


  • Community financial institutions are generous. They actively support local schools and community organizations in their efforts to improve quality of life for all residents.

#4: Get Big Bank Perks without the Big Bank Bureaucracy

While all of that sounds nice, you may still be wondering about services like online banking, or how to manage your money when you're traveling.


If you shop around you'll discover that many local institutions, like BluCurrent Credit Union, offer many of the same convenient perks as the big banks -- along with the personal service you expect from a small credit union or bank.


  • BluCurrent gives you access to more than 6,800 shared branches and 30,000 ATM locations nationwide, through our affiliation with the CU Service Center.


  • You can eliminate the need for paper bank statements with our Online Banking services.



  • Our Online Bill Pay service lets you stop writing paper checks and pay all of your bills electronically.


Do you have questions about how local banking could benefit you? Contact us at any time or stop by one of our branches to find out more. We look forward to hearing from you!

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